The following is issued on behalf of the Hong Kong Monetary Authority:

The Hong Kong Monetary Authority (HKMA) announced today (November 10) that the Financial Secretary, on the advice of the Governance Sub-Committee of the Exchange Fund Advisory Committee, has approved the following appointments:

(a) Mr Howard Lee as Deputy Chief Executive with effect from January 1, 2018; and
(b) Mr Alan Au as Executive Director (Banking Conduct) with effect from December 12, 2017.

Mr Lee will continue to be responsible for monetary stability and financial infrastructure development, including Fintech and the new regulatory regime on the licensing and supervision of Stored Value Facilities and the designation and oversight of Retail Payment Systems in Hong Kong. Mr Au will succeed Ms Carmen Chu as Executive Director (Banking Conduct). Ms Chu will take over from Ms Meena Datwani as Executive Director (Enforcement & AML) upon Ms Datwani's retirement on December 12, 2017.

Commenting on Ms Datwani's retirement, the Chief Executive of the HKMA, Mr Norman Chan, said "I would like to thank Ms Datwani for her dedicated service and contributions to the HKMA's work in the past 22 years. My colleagues and I wish her a very happy retirement life."